If you're launching a small business in Montgomery County, especially around Blacksburg, Christiansburg, or the New River Valley, a good business plan isn't just for securing loans or grants—it’s your roadmap to clarity and consistency.

Here's a step‑by‑step guide to creating a business plan that's easy to use, rooted in your goals, and relevant to the local business climate.

1. Start with Your “Why” and Vision

Your business plan needs to start with purpose.

• Why does your business exist? Is it to fill a gap in the market, offer a unique product, or support your community?

• What’s your long-term vision? In 3–5 years, are you aiming to expand into Christiansburg? Become a recognized partner for startups at Virginia Tech?

Examples:

• A Blacksburg café might define its purpose as: “Creating a welcoming study space with locally roasted coffee for students and professionals.”

• A Radford boutique might say: “Showcasing women‑owned artisan goods to reflect the values of our community.”

Clarity here will help shape every section of your plan—and guide decisions down the road.

2. Define Your Target Market & Competition

Get specific about who you're selling to and who you're up against.

• Target market: Describe your customers—e.g., remote workers near Virginia Tech, families in Christiansburg, or tourists attending Mountain Lake events.

• Competition: List direct competitors (e.g., other cafés or boutiques near Downtown Blacksburg Inc.) and indirect competition (like grocery store coffee counters).

Understanding this helps you position your unique value:

• Maybe you're the only small business offering extended evening hours.

• Or you partner with local nonprofits to give back through every purchase.

3. Outline Your Products, Services & Pricing

Clarify what you're selling—and how it’s unique.

• List what you offer, including features like delivery, workshops, or bundled services.

• Explain your pricing—cost-plus? Hourly? Tiered packages? Be clear about how you arrived at your numbers.

• Highlight value propositions (e.g. “Our consulting package includes 3 months of follow-up support—no other business in Christiansburg offers this”).

4. Create a Basic Marketing Strategy

You’ve already got marketing tools—and now align them with your business plan.

• Channels: Will you rely on local SEO, Chamber networking, farmers markets, or Instagram?

• Budget: How much will you allocate monthly to ads or materials? Even $50/month adds up—include realistic costs.

• Goals: Use SMART targets: “Get 300 email subscribers in 3 months” or “Book 10 monthly Chamber-based meetings.”

5. Set Financial Goals & Forecasts

Keep it simple to stay focused.

• Break-even point: How many sales or bookings do you need monthly to cover costs?

• Monthly revenue goals (e.g., $5,000/month within six months).

• Expenses: Rent, supplies, Chamber dues, insurance, salaries. Use local averages (e.g., rent near Uptown Christiansburg, utility rates in New River Valley).

Even simple tables with revenue vs. expenses month-to-month show lenders and you that you're thinking smart.

6. Identify Milestones & KPIs

Set checkpoints to help you stay on track:

1. Launch your website & directory listing

2. Reach 100 email subscribers

3. Host first Chamber event appearance

4. Break even 2 months in

5. Secure 3 testimonials from local customers

Tie each milestone to a date—this makes your plan actionable and motivates you and your team.

7. List Risks & Mitigation Plans

Good planning acknowledges uncertainties:

• Example risk: Seasonal revenue dips in winter
  Mitigation: Launch holiday gift packages or partnership with NRV Mall’s winter events.

• Risk: Staff shortages
  Mitigation: Network with NRCC and Virginia Tech for interns or part-time hires

8. Add a Simple “Action Plan” Summary

Create a focused “Next 90 Days” checklist:

• Week 1: Refine vision + target market

• Week 2–4: Launch website & directory listing

• Month 2: Set up email platform + publish first two blog posts

• Month 3: Attend two Chamber networking events + track revenue

This summary shows you’re ready to execute—not just planning in a vacuum.

How the Chamber Supports Your Business Plan

The Montgomery County Chamber of Commerce is here to help you bring this plan to life:

• Expert workshops on financial planning and marketing

• Networking events to connect with local partners and talent

• Promotion opportunities via directory listings and sponsored posts

• Advocacy, ensuring policy decisions support small business operations

• Referrals to local accountants, attorneys, and advisors

Ready to Move from Planning to Launch?

A business plan is only as powerful as your follow-through. The Chamber is here to support every step.

• Join our upcoming business workshops: https://business.montgomerycc.org/events/calendar

• Email our team: marketing@montgomerycc.org

• Learn more about membership benefits: https://www.montgomerycc.org